30 November 2023, Dr Candice Reynders
Dividend stripping has been under the watchful eyes of the South African Revenue Service (“SARS”) for some time. As a highly technical topic, we will take a look in this article only at the anti-dividend stripping rules that may apply to dividend stripping.
20 October 2023, Johnny Davis, Luhann Prinsloo
Mergers and Acquisitions or ‘M&As’ have become integral components of South Africa’s corporate landscape and play a crucial role in economic growth and development. In this article, we explore the legal framework and key considerations surrounding M&A transactions in South Africa by looking at the regulatory environment, c
26 July 2023, Dr Candice Reynders
Converting or exchanging debt that is owed by a company into shares in that same company has long been used as a debt restructuring tool. There are, however, very fine lines that surround this solution and it needs to be structured correctly to ensure that no unintended tax consequences arise. In this article, we briefly highlight a few considerati
03 July 2023, Elani van Coller
With the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) having come into full effect on 1 April 2023, SARS has updated its Income Tax Return Wizard system to enable SARS to intensely verify the information submitted during tax return season.
27 June 2023, Johnny Davis
In the 2023 national budget speech, Finance Minister Enoch Gondongwana unveiled a series of draft tax relief initiatives aimed at promoting renewable energy adoption among households and alleviating the burden on the struggling national power grid. These proposed tax relief incentives were published in the 2023 Draft Taxation Laws Amendment Bill (D
04 July 2022, Tanya Strauss
Markets have experiencied a 50 to 60% slump in prices from the heights of the crypto currency boom. This has left many high-risk investors deflated, with many realising significant financial losses in recent months, and raising a relatively new question: Will the South African Revenue Service grant any relief for crypto currency losses incurred?
08 June 2022, Luhann Prinsloo, Sinalo Ncityana
Commercial transactions can often involve a range of corporate structuring which in turn could have tax implications for participants. With all the focus on getting the deal done, often participants forget that a tax benefit a participant derives from the commercial arrangement may need to be disclosed to SARS.
27 April 2022, Dr Candice Reynders
The first question many of our clients ask when we propose the use of a trust for their estate or corporate structuring is “but is a trust still a safe option to use?”. A big reason for the question is probably some of the ‘bad’ press trusts have received over the years as well as the high taxation that SARS has imp
28 March 2022, Dr Candice Reynders
Don’t let the fear of tax consequences make you hesitant to consider important changes to your company structure. Clients are generally not aware of section 42 of the Income Tax Act and the roll-over relief it can provide when assets are exchanged for shares in a company – a section 42 asset-for-share transaction as it’s commonly
16 March 2021, Dr Candice Reynders
I noted an article the other day that referred to tax restrictions for loop structures. What is a loop structure and how have restrictions been reduced?
10 February 2021, Jonathan Le Riche
I am on the verge of being declared insolvent. In the next few years I will receive pension payouts from my pension fund. I am concerned, though, that my pension will also fall into my insolvent estate and I will lose my pension? Will this happen?
09 February 2021, Johnny Davis
The taxman will always come knocking during your lifetime, but he is not always as unreasonable as society implies. The mighty Income Tax Act and all other tax related pieces of legislation do allow for certain exemptions, which all young individuals should take note of. Each exemption can justify a lengthy conversation but for purposes of this blo
Mergers and Acquisitions or ‘M&As’ have become integral components of South Africa’s corporate landscape and play a crucial role in economic growth and development. In this article, we explore the legal framework and key considerations surrounding M&A transactions in South Africa by looking at the regulatory environment, c...
Converting or exchanging debt that is owed by a company into shares in that same company has long been used as a debt restructuring tool. There are, however, very fine lines that surround this solution and it needs to be structured correctly to ensure that no unintended tax consequences arise. In this article, we briefly highlight a few considerati...
In the 2023 national budget speech, Finance Minister Enoch Gondongwana unveiled a series of draft tax relief initiatives aimed at promoting renewable energy adoption among households and alleviating the burden on the struggling national power grid. These proposed tax relief incentives were published in the 2023 Draft Taxation Laws Amendment Bill (D...
The first question many of our clients ask when we propose the use of a trust for their estate or corporate structuring is “but is a trust still a safe option to use?”. A big reason for the question is probably some of the ‘bad’ press trusts have received over the years as well as the high taxation that SARS has imposed on t...
Don’t let the fear of tax consequences make you hesitant to consider important changes to your company structure. Clients are generally not aware of section 42 of the Income Tax Act and the roll-over relief it can provide when assets are exchanged for shares in a company – a section 42 asset-for-share transaction as it’s commonly ...
I have a construction company which has been hard hit by the Covid-pandemic and although I have managed to keep our doors open and not retrench my employees, we are in dire straits. I understand that there are some tax relief measures which I can access to assist my company. Is this true?